Recently, the Central Bank has received several letters of recommendations, which dealt directly with the restructuring of foreign currency mortgages. Letters have been issued in the form of a non-intrusive proposal, which, of course, it is desirable to perform, because it’s still the Central Bank.
Proposal is to convert the ruble mortgage loans, but not on the course today, but by the rate which was recorded in the first camp last October. Back in those days, one dollar was worth 39 rubles and 38 kopecks. An important nuance of this proposal is the fact that such a course “past” will be active for fines.
Addition to this course, the Central Bank urges to use the same rate, referring to that and give mortgages in rubles. This list is due to too high a level of currency and credit risks at the moment. According to representatives of the Central Bank is such restructuring may somewhat mitigate the adverse situation, as it is not bad advise a ll Russian banks should carefully think about the adoption of such a proposal.
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